10 Days Until the Small Biz World Summit Begins: Tip of the Day

Tip of the Day: Be a Cash Miser
Ruth King, Ribbon

Brought to you by The Small Business World SummitPre-register now and get the Small Business Growth Package worth $149 –  FREE!

The companies with the greatest cash reserves have the ability to survive downturns the longest. But, how much cash is enough? Do you ever have too much? You can be blindsided in business. Revenues can stop immediately. It happened to a manufacturing company when the Federal Government discontinued a program. That represented 80% of their business. The owner laid off 140 people in one day. It took 10 years to pay back their vendors and they survived. How? By negotiating with their creditors and hoarding what little cash they had. So, how much cash is enough? The minimum is the equivalent of two months of payroll and payroll taxes. This way you have a little time to make decisions if a disaster strikes. The easiest way to accumulate these savings? Save 1% of every dollar that comes in the door. You’ll never miss the 1% in your operations – and your savings account will grow quickly.

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact 

Small Biz World Summit Begins in 11 Days: Tip of the Day

TIP OF THE DAY – Just Do It: Create a Roadmap
Beth Goldstein, Marketing Edge

Brought to you by The Small Business World SummitPre-register now and get the Small Business Growth Package worth $149 –  FREE!

All the best knowledge and calculations in the world will not lead to success without a plan. Create a roadmap that will grow and develop with your business over time. Don’t allow this plan to simply sit on your shelf collecting dust. Make it a living document that you review on a regular basis to make sure you’re meeting milestones and benchmarking your actual performance against projected results. Remember: a good idea is only as strong as its execution. Dreams of business success are realized only when sweat equity and working on the ‘RIGHT’ business activities are invested into the business to make it happen.

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact

 

Small Biz World Summit Begins in 14 Days: Tip of the Day

The Small Business World Summit is coming to your mobile device and computer! All you need is Internet access to participate The Summit gives you the answers you need to take your business to the next level – FAST! Read our TIp of the Day: Make Sure You Give Employees Time to Breath from Suzi Lemen, Dynamic Corporate Solutions

We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact

TIP OF THE DAY: Make Sure You Give Employees Time to Breath
Suzi Lemen,
Dynamic Corporate Solutions

Businesses are obsessed with efficiency, doing more with less, and eliminating waste including wasted time.  While focus on efficiency is important, obsession on it can be very demoralizing for staff.  Employees need to have time to breath.  They need time to learn new tasks before others are introduced.  Don’t try to push too hard.  Empower your team to be focused on efficiency but not at the expense of a quality work place.

Small Biz World Summit Begins in 15 Days: Tip of the Day

The Small Business World Summit is coming to your mobile device and computer. Pre-register now and get the Small Business Growth Package worth $149 –  FREE!

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact

TIP OF THE DAY: Be Specific About What Customers Will Receive!
Lanelle Henderson, Constant Contact

When people sign up for your email list, allow them to select—precisely—their areas of interest (e.g., newsletters, sale notifications, new product or service announcements, event invitations). You can make subscribers feel more comfortable by specifying what they will receive and when they will receive it (e.g., “Sign up for Our Weekly Concert Announcement”). Also, be sure to identify yourself to your subscribers in the “From” line, and use the name they recognize most easily – yours or your company’s.

 

Small Biz World Summit Begins in 16 Days: Tip of the Day

The Small Business World Summit is coming to your mobile device and computer. Pre-register now and get the Small Business Growth Package worth $149 –  FREE!

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact

TIP OF THE DAY: Define If You Can Afford to Hire a _____!
Ruth King, Ribbon

You think you need to hire another field employee, i.e., an employee who produces revenues for your company. Can you afford to hire that person? The answer can be found using a quick calculation. If you are hiring an additional staff member for your office, i.e., overhead personnel:

  • Total the costs of that person’s anticipated yearly wages plus benefits. Take this sum and divide it by the gross margin of the company (assuming the person will work in more than one department) or the gross margin of the department she will be working in.
  • For example, assume that you are considering hiring a receptionist. Her yearly wages plus benefits are anticipated to be $30,000 per year. The company gross margin is 32%. The additional revenues the company must generate to cover her salary are $30,000 divided by 32% or $93,750.

Is this feasible or not? Can you generate the additional revenue or can this person make existing personnel $93,750 more productive? These quick calculations give you an idea of what revenues must be generated or what increases in productivity are necessary to hire additional personnel. If you don’t think this is feasible, then don’t hire that person!

Small Biz World Summit Begins in 17 Days: Tip of the Day

The Small Business World Summit is coming to your office – and you don’t have to leave your desk to participate! Pre-register now and get the Small Business Growth Package worth $149 –  FREE!

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Build Your business, Constant Contact

TIP OF THE DAY: Welcome Change!
Jacqueline Wales, The Fearless Factor

Let go of old goals in favor of ones that better fit the current circumstances of your life. Review your goals as you progress and make room for changing priorities. Change is the only consistency we can rely on.  I love the quote from Tony   Robbins, “the quality of your life is determined by how much uncertainty you can comfortably live with.” Go ahead, take risks, and welcome the change.

 

Small Biz World Summit Begins in 18 Days: Tip of the Day

The Small Business World Summit is coming to your office – and you don’t have to leave your desk to participate! Pre-register now and get the Small Business Growth Package worth $149 –  FREE!

The Summit gives you the answers you need to take your business to the next level – FAST! We answer your questions about marketing, sales, building online customer communities, cash flow, leadership, HR, and other challenges that you face every day.

Plus, it’s completely free to watch during Small Business Saturday Weekend (Nov 23 – 26).

Click here to learn more and to pre-register!. Plus, when you pre-register you will get a Small Business Growth Package worth $149 for FREE that includes:

  • Keeping Score Manual, Ribbon
  • Business Boot Camp Accelerator eBook: Setting the Stage for Growth, Marketing Edge
  • Building an Email List that Builds Your Business, Constant Contact

CAN’T WAIT: HERE’S A TIP YOU CAN PUT TO WORK IMMEDIATELY
FROM ONE OF OUR SUMMIT EXPERTS

Sales is About Knowing When to Push and When to Pull Back
Roger Daviston

One of the biggest misperceptions that we have about sales is that using fancy grammar helps in the communication process.  However, communication does not depend on eloquence but on the prospect’s openness to receive what we are saying. If our words feel like they are being pushed upon them then they won’t be motivated to listen or make a decision.  No amount of fact throwing or logical reasoning will influence them and trying harder simply won’t help. When this happens bury the ‘negative talk’ going on in their head by doing the opposite of what they expect – encourage them to say “no.”  The central key here is doing this without destroy the relationship that you’ve built but allowing them to come to the logical conclusion and say ‘yes’ on their own.

Why Is Walking Away So Darn Hard…Even When It’s the Right Decision?

I haven’t slept well over the past few weeks plagued by a ‘Go – NO Go’ decision over a major contract that was certain to have a huge impact on my business and my personal life.  Why is walking away ALWAYS so darn hard, even when you know it’s the right decision?

A few years back I was involved with helping a non-profit organization create a curriculum for a program to educate inner city businesses throughout the U.S. They ran the program through the SBA and now, in its fifth year, the program is offered in almost 30 cities. The contract with the SBA to run the program recently became available for bid and boy, did I want it. I really, really wanted it (did I mention that I wanted the contract?).

The current program is excellent and I have a lot of respect for the organization running it but, like every entrepreneur, I was (and still am) confident that I could make it even more effective in terms of its economic impact on urban businesses. I’ve run a variety of uniquely designed business accelerator programs since then for a number of organizations engaged in helping small business owners grow, including the state of Massachusetts. So taking the lessons learned, I am totally confident that I could deliver one heck of a program. So, what’s the problem? Why not go for it?

Well, honestly I wish it wasn’t such a complicated decision but the bottom line is, I don’t currently have the business model nor infrastructure required to effectively run the program in so many cities (30 simultaneously). My fear is that running a program of that scale would either destroy my current business model  or my mental stability or both. The thought of not sleeping for an entire year is not very appealing. Have you been in a similar situation where you really (REALLY!) wanted to do something but your gut told you, Stop and evaluate what this will mean in terms of your business and your life? It’s akin to a chef who loves to cook opening a chain of restaurants across the country all at the same time. She might be able to handle running one (although preparing amazing meals and running a business are different) but a chain, I don’t think so!

(Continue Reading on the Marketing Edge Newsletter Website…)

Beth

Biz-Edge Video Series: Episode Nine – The Importance of Understanding Your Competitors

Welcome to Biz-Edge where we answer YOUR business questions. In the ninth of the Summer 2012 Series, I address a question about understanding who your competitors are, even when they don’t look nor act exactly like you.

Competitors don’t always offer the same product as you do. Therefore, in understanding and clearly defining who your competition is, it’s critical to think of them in terms of the solution they provide because that’s what you will end up competing on. Watch how I respond to a question about defining competition to grow a business.

Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website and I will try my best to answer it via video.

Biz-Edge Video Series: Episode Eight – Gauging Interest in a New Product

Welcome to Biz-Edge where we answer YOUR business questions. In the eighth of the Summer 2012 Series, I address a question about how to best gauge interest in a new product.

Market research is not just an option for large businesses. If you are thinking about launching a new product, it’s critical to gauge customer interest before you release it, to ensure the best outcome. Watch how I respond to a question about how small businesses can learn more about their customers’ needs.

Have a question about business growth? Here’s your opportunity to ask questions about business challenges you face so you can gain an EDGE in business. Plus, hear advice that we’ve given other small business owners and entrepreneurs to help them make bold leaps forward. Complete the form at the Biz-Edge Website and I will try my best to answer it via video.